The stock market resumed the week positive as the All-Share Index rose 21bps to close at 25,316.15 points following buying interest in GUARANTY (+2.3%), DANGSUGAR (+9.7%) and BUACEMENT (+0.7%). As a result, investors gained ₦25.2bn as market capitalisation settled at ₦13.2tn while YTD return improved to -5.7%. Activity level weakened as volume and value traded declined 22.2% and 40.9% to 253.3m units and ₦2.6bn respectively. The most active stocks by volume were FBNH (41.0m units) GUARANTY (36.2m units), and JAPAULOIL (25.4m units) while GUARANTY (₦887.5m), ZENITH (₦369.9m) and MTNN (₦278.3m) led by value.
Performance across sectors under our coverage was mixed as 3 indices gained, 1 lost while the Oil & Gas and AFR-ICT indices were unchanged. The Banking index (+1.3%) led gainers following price appreciation in GUARANTY (+2.3%), ACCESS (+1.4%) and ZENITH (+0.9%). Likewise, the Industrial (+0.5%) and Consumer Goods (+1.1%) indices trailed, due to buying interest in BUACEMENT (+0.7%) and DANGSUGAR (+9.7%) respectively. Lastly, profit-taking in MANSARD (-8.9%) drove decline in the Insurance index (-0.9%).
Investor sentiment as measured by market breadth (advance/decline ratio) strengthened to 2.7x from the 0.7x recorded in the previous session as 27 stocks advanced while 10 declined. The top gainers were NAHCO (+10.0%), JAPAULOIL (+10.0%) and DANSUGAR (+9.7%) while FIDSON (-9.7%), STANBIC (-9.2%) and MANSARD (-8.9%) led the losers. We anticipate a mixed performance this week.
Market Statistics for Monday, 1st June 2020
| Market Cap (N’bn) | 13,193.6 |
| Market Cap (US$’bn) | 36.6 |
| NSE All-Share Index | 25,316.15 |
| Daily Performance % | 0.2 |
| One Week Performance % | 0.2 |
| MTD Performance % | 0.2 |
| QTD Performance % | 18.9 |
| YTD Performance % | (5.7) |
| Daily Volume (Million) | 253.3 |
| Daily Value (N’bn) | 2.6 |
| Daily Value (US$’m) | 7.4 |
